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21-490: ACCS may refer to: Adarsh Credit Cooperative Society , an Indian credit society Air Command and Control System , a NATO project to replace outdated technology Anti-Corruption Commission Seychelles , a government agency in Seychelles Association of Classical and Christian Schools , an organization that encourages the formation of Christian schools using

42-725: A Legal Service Officer as the Director of Enforcement, assisted by an officer on deputation from the Reserve Bank of India and three inspectors from the Special Police Establishment. The unit started with two branches in Bombay (now Mumbai) and Calcutta (now Kolkata). In 1957, the unit was renamed as the "Enforcement Directorate," and a new branch was opened in Madras (now Chennai). The administrative control of

63-730: A Special Director. These regional offices oversee the operations of zonal offices located in various cities across India, including Pune, Bengaluru, Chandigarh, Chennai, Kochi, Delhi, Panaji, Guwahati, Hyderabad, Jaipur, Jalandhar, Kolkata, Lucknow, Mumbai, Patna, and Srinagar. Each zonal office is led by a Joint Director. In addition to the zonal offices, the ED has sub-zonal offices in cities such as Mangaluru, Bhubaneshwar, Kozhikode, Indore, Madurai, Nagpur, Allahabad, Raipur, Dehradun, Ranchi, Surat, Shimla, Vishakhapatnam, and Jammu. These sub-zonal offices are headed by Deputy Directors. The ED's organizational structure also includes specialized units such as

84-529: A case of embezzlement of public deposits by Adarsh Credit Cooperative Society Ltd under the Prevention of Money Laundering Act, 2002 . Government Of India has given instruction for winding up the society under the provisions of the MSCS Act, 2002 (& Rules made thereunder) Enforcement Directorate The Enforcement Directorate (ED) is a law enforcement and economic intelligence agency of

105-446: A model of classical education See also [ edit ] List of United States Air Force airborne command and control squadrons for Airborne Command and Control Squadron American Association of Christian Colleges and Seminaries for American Christian College and Seminary, any school that is part of the association Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with

126-524: Is based on a small number of completed trials. As of January 31, 2023, the ED had registered 5,906 Enforcement Case Information Reports (ECIRs) and arrested 513 persons. However, only a small fraction of these cases have completed trial. In July 2023, data shared by the union government in Parliament revealed that only 31 cases under the Prevention of Money Laundering Act (PMLA) had completed trial in

147-632: Is tasked with implementing the Fugitive Economic Offenders Act, 2018 (FEOA) . The Directorate of Enforcement (ED) was established on May 1, 1956, as an "Enforcement Unit" within the Department of Economic Affairs, Government of India. It was created to handle violations of exchange control laws under the Foreign Exchange Regulation Act, 1947 (FERA '47) . Initially, the unit was headed by

168-466: The Directorate was transferred from the Department of Economic Affairs to the Department of Revenue in 1960. Over the years, the ED's mandate expanded. In 1973, FERA '47 was repealed and replaced by FERA, 1973. From 1973 to 1977, the Directorate was under the administrative jurisdiction of the Department of Personnel & Administrative Reforms. With economic liberalization in the 1990s, FERA 1973

189-551: The Enforcement Directorate operates under the Department of Revenue, Ministry of Finance, Government of India , and plays a crucial role in combating economic crimes and enforcing economic laws in the country. The Enforcement Directorate (ED) is headed by the Director of Enforcement, who is an officer of the rank of Additional Secretary to the Government of India . The Director is responsible for overseeing

210-623: The Government of India. Established on May 1, 1956, it is responsible for enforcing economic laws and combating financial crimes. The ED operates under the Department of Revenue, Ministry of Finance , with its headquarters in New Delhi. The ED's primary mandate is to enforce two key laws: the Prevention of Money Laundering Act, 2002 (PMLA) and the Foreign Exchange Management Act, 1999 (FEMA) . Additionally, it

231-604: The Headquarters Office, Coordination, Intelligence, System & Training, Adjudication, and the Special Task Force (STF), each managed by Joint Directors and Special Directors. The Prevention of Money Laundering Act, 2002 (PMLA) provides for the establishment of Special Courts to ensure the speedy trial of offenses under the Act. Special Courts have exclusive jurisdiction to try offenses punishable under

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252-459: The MSCS Act, 2002, direct to wind up the above society and hereby appoint Shri H.S. Patel, IAS (Retd.), Plot No. 338, Sector No. 8B, CH Road, Gandhinagar, Gujarat – 382007, as Liquidator under section 89(1) of the Act for winding up of the above society as per the provisions of the MSCS Act, 2002 & Rules made there under”, it further reads. All fraud family members of Modi running the scam behind shell companies are now arrested. Those arrested by

273-578: The PMLA. They follow the procedure prescribed in the Code of Criminal Procedure, 1973 (CrPC), for trials before a Court of Session. In several landmark rulings, the Supreme Court of India has clarified the extent of the ED's powers, particularly concerning arrests and custody of accused individuals. The Enforcement Directorate has reported a high conviction rate in money laundering cases, but this figure

294-538: The Rajasthan police include Virendra Modi (ex-chairman of ACCSL), Priyanka Modi (ex-MD of ACCSL), Sameer Modi (CFO ACCSL), Rohit Modi (asst MD of ACCSL), Bharat Modi (director of Aditya Mega Project Pvt Ltd), Lalita Rajpurohit (Ex-MD of ACCSL), Kamlesh Choudhary (ex-chairman of ACCSL), Ishwar Singh Sindhal (chairman of ACCSL), Vaibhav Lodha (senior vice-president of ACCSL). The Enforcement Directorate (ED) attached properties total worth Rs 1,489 crore in connection with

315-533: The agency has been selectively targeting opposition leaders, conducting raids, and making arrests, especially during election periods. In March 2024, 14 opposition parties filed a petition with the Supreme Court alleging misuse of the ED. Senior advocate A M Singhvi, representing the petitioners, argued that the number of politicians investigated by the ED had drastically risen after 2014, with 95% of those investigated belonging to opposition parties. The allegations of misuse have been further fueled by incidents such as

336-576: The agency's operations and reports to the Department of Revenue, Ministry of Finance. The Director is assisted by several Special Directors, Additional Directors, Joint Directors, Deputy Directors, Assistant Directors, and Enforcement Officers. The organizational structure is designed to ensure efficient management and coordination across various regions and functions. The ED's headquarters is located in New Delhi, and it has five regional offices in Mumbai, Chennai, Chandigarh, Kolkata, and Delhi, each headed by

357-511: The previous nine years. Of these, 29 resulted in convictions, yielding a conviction rate of 93.54%. While this rate exceeds the 57% national conviction rate for offences under the Indian Penal Code (IPC), it is important to note that only 0.52% of PMLA cases have completed trial, compared to 10.5% of IPC cases. The ED has faced accusations of being used as a political tool, particularly against opposition parties. Critics argue that

378-517: The society has failed to provide any satisfactory explanation/justification for the irregularities pointed out. The society has been found to indulge in misusing the funds of the members for personal gains and has violated Cooperative Principles and the provisions of the MSCS Act, 2002.”“Now, therefore, after careful consideration of above facts and in the fitness of things, I Dr. Abhilaksh Likhi, Central Registrar of Cooperative Societies, in exercise of powers conferred under sub-section 2(b) of section 86 of

399-511: The title ACCS . If an internal link led you here, you may wish to change the link to point directly to the intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=ACCS&oldid=1205830715 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Adarsh Credit Cooperative Society Founded by Mukesh Modi, Adarsh Credit Ponzi Scheme

420-1213: Was led by Rahul Modi (Managing Director & CEO ). Adarsh Credit Co-operative Society Ltd. has over 3.3 lakh advisors and is serving more than 1.9 million members across India as on 30 Jan 2018. Adarsh Credit opened its 100th branch in 2008 and was granted the stature of Multistate Co-Operative Society by the Ministry of Agriculture , Government of India. It had 809 branches (as on August 31, 2016) in PAN India (except Dadra & Nagar Haveli and Lakshadweep ) and become India's leading credit co-operative society in terms of branch network, advisor strength, deposit procurement and running shell companies out of poor people's money. The Serious Fraud Investigation Office (SFIO) has arrested founders of Adarsh Credit Cooperative Society, Mukesh Modi and Rahul Modi. Mukesh and his family members were reportedly running Ponzi schemes, duping over than 20 lakh depositors, according to official sources. Finally order issued by Central Registrar on 6 December 2018 reads, “Adarsh Credit Cooperative Society has been given reasonable opportunity of hearing, however,

441-550: Was repealed and replaced by the Foreign Exchange Management Act, 1999 (FEMA), which came into effect on June 1, 2000. The ED was entrusted with enforcing FEMA. In 2002, the Prevention of Money Laundering Act (PMLA) was enacted, and the ED was given the responsibility of enforcing it from July 1, 2005. More recently, the Fugitive Economic Offenders Act, 2018 (FEOA) was passed, and the ED was entrusted with its enforcement from April 21, 2018. Today,

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